A report from the Internet Advertising Bureau and PricewaterhouseCoopers found that revenue from internet advertising is up 22 percent in 2011 based on annual quarterly comparisons.
In the third quarter, internet advertising generated more than $7.8 billion in revenue for companies. As more businesses understand the value of investing in web marketing campaigns, whether it’s PPC, SEO or social media marketing, new media marketing campaigns are replacing more traditional media as businesses’ preferred platforms.
The IAB and PwC expect online revenue to continue its growth moving forward, as the amount of companies leveraging internet marketing will only expand. This means consumers and B2B decision makers will see more marketing material on the web.
“Brand marketers recognize that their messages need to be where their consumers are spending time – and that is increasingly in digital media,” Randall Rothenberg, president and CEO of the IAB, said in a release. “Digital marketing has delivered the kind of results that have made more marketers stand up and take notice, as these latest numbers clearly demonstrate.”
Technology companies have become especially active in web advertising. Brafton reported on Thursday that content marketing campaigns will become a major component of advertising budgets for B2C and B2B technology companies in 2012.